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20121201
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Search Results 0 to 11 of about 12 (some duplicates have been removed)
on efforts to break the jam in washington. >> reporter: top congressional leaders are expected to meet with president obama at the white house friday. this would be the group's first face-to-face meeting since november 16, and a last-minute chance to avoid the so-called fiscal cliff. if no deal is reached, taxes will go up for nearly every american. senators reconvened thursday with tensions spilling over onto the floor. each side accused the other of stalling. >> speaker boehner is unwilling to negotiate. we've not heard a word from mcconnell. nothing is happening. >> the phone never rang. and so now here we are, five days from the new year. and we might finally start talking. >> reporter: senate majority leader harry reid skewered house speaker john boehner, charging he's more interested in his leadership position than in bipartisan legislation. >> the speaker's no. 1 goal is to get elected speaker on january 3. >> reporter: the two sides are at odds over tax cuts and spending. republicans say it's up to the democratically controlled senate and white house to reach an agreement. >>
counter offer calls for raising 800 billion in revenue without raising tax rates. >> if washington can't reach a deal cbs reporter jim axle rod says your paycheck is going to feel it. >> the payroll tax cut has given this family an extra $70 a month to spend. >> are you paying attention to what's going on in washington right now. >> of course we are. >> their 50,000-dollar a year income puts them in the middle of american households if the payroll tax cut is not extended those families would pay an average of $1,035 a year more in social security taxes. >> do you have room to cut back. >> no, sir i don't. i guess if i do some type of magic like we do every month. >> if the tax cut expires paycheck contributions will go from 4.2 percent to 6.2 percent. $115billion a year that will go to deficit reduction instead of being pumped into the economy. those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. although he says that somewhere will mean doing without some of the basics. >> it might be a pair of sneakers. it might be the
not impressed by today's developments in washington. the dow last more than 158 points. it's five-day losing streak is the longest since july. the s&p 500 also closed down. >>> going over the fiscal cliff will have several impacts on your wallet. a 2% payroll tax cut and a series of other temporary tax cuts will expire, along with other credits and deductions. your grocery costs, especially for dairy products, could suddenly skyrocket. federal long-term jobless benefits would expire. but the price of gas could actually go down because of the declining demand. another tax you'll see rise is the estate tax. cbs reporter john blackstone shows us how tumbling off the fiscal cliff could destroy the legacy of a napa valley vineyard. >> reporter: when his great grandfather started farming her in the late 1800s... >> they farmed orchard fruit and cattle. >> reporter: but much of the land he grew up on is gone, sold, to pay estate taxes after his grandfather's death. >> had to sell all of it. >> estate taxes? >> yes. >> reporter: his grandfather died in 1972 when estate taxes were at an all-time high
it and gets a touch down. washington seven to three. giants leading 16, 10. griffin roles out. and washington hangs on 17, 16. the monday night top five. at number five, tristan thompson meet detroit. the pistons beat the cavaliers. nightly hockey fix. mat tried to clear the puck but hit it into his own net for a goal. want to get away? tyreke's team lost three to nothing. at number three the baa boon baa boon stole the guys sandwich. number two this might be the most impressive nonchalant goal you've ever seen. with his heal. number one former arch bishop drew gordon. look at that. it's the worst flop i've ever seen. that is the worst marlin brando ever. and we'll be back. . >> i'm hoping all this rain was worth something. that we got the reservoirs beginning to fill, right. >> you asked the question earlier. we looked it up. lake shasta went up 17 feet over the past five days. >> that's significant. a lot of houseboaters and water skiers. >> see you tomorrow. band playing "late ) >> from new york, the greatest city in the world, it's the "late show" with david letterman. tonight... plus pau
prayers. and in washington, d.c., hundreds of people packed the white house lawn, holding up candles at an impromptu vigil. >> today's tragedy has a lot of people wondering if it's time for tougher gun control. according to a new survey, usa poll, almost 3/4s of bay area adults say laws for gun sales should be stricter. but is public sentiment strong enough to change the law? here's cbs 5 reporter grace lee. >> i know there's not a parent in america who doesn't feel the same overwhelming grief that i do. >> reporter: it was an emotional president obama who faced the nation today. it was also a rare moment, perhaps a turning point in presidential policy for federal gun control. >> we're going to have to come together and take meaningful action to prevent more tragedies like this, regardless of the politics. >> it is an obvious and perfectly appropriate emotional response to say something's got to be done. >> reporter: uc berkeley criminal law professor believes the american people will also have a change in public sentiment. a call for gun control. but he does not believe it will last
of lawmakers. the president and congress left washington on friday for the holidays with a promise to return later this week. there is only a week left to avoid tax hikes and spending cuts that will impact almost every american. tonight it appears democrat senate leader harry reid may take the lead in crafting a comp mice to prevent tax hikes on at least the middle class. the president was in hawaii for the funeral of senator daniel minoli. >>> one of the president's last acts before leaving washington caught some holiday travelers offguard today. grace lee on how an unexpected federal holiday scuttled some christmas vacations. >> i'm really upset. at this point, i don't know what can we do now? just wait. we've been here since 7:30 in the morning. my appointment was at 9. >> reporter: stranded an christmas eve. it was the same story for dozens who were supposed to pick up pass ports today. some had confirmation numbers. >> extremely frustrating and disappointing that i'm not going to be able to see them, not for my wife's birthday or my daughter for christmas. >> reporter: the passport age
Search Results 0 to 11 of about 12 (some duplicates have been removed)

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